Lawyer Reveals Why US Exchanges May Relist XRP – Crypto News – Crypto News
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Lawyer Reveals Why US Exchanges May Relist XRP – Crypto News

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3 years ago

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XRP News: US District Court is yet to deliver a much anticipated Summary Judgment in the crucial Securities and Exchange Commission (SEC) Vs Ripple lawsuit. As the judge moves closer to concluding the case, XRP relisting on crypto exchanges has become a major concern among the XRP holders.

Also Read: Why LBRY Latest Court Filing Is Critical For XRP Case Judgment?

XRP Relisting Coming Soon?

The “Secondary Market Sales” of XRP have been a majorly discussed issue among crypto leaders and experts. However, the court is yet to address this matter in the XRP lawsuit,

Coingape reported that US SEC on record admitted that the LBRY Credits (LBC) tokens’ secondary market sales don’t constitute a security. However, the commission’s this settlement in the LBRY lawsuit would certainly be discussed among the Ripple legal team.

Attorney Jeremy Hogan stated that he is confident Ripple’s XRP will be relisted on crypto exchange once the judge decides whether the token is inherently a security. The SEC’s complaint in the lawsuit claims that XRP itself is a security. However, it does not ask anything to discuss the nature of the asset. Read More XRP News Here…

What If Court Refuses To Admit The Issue?

Hogan mentioned that there is a very high chance that the court might not take up the particular issue as the commission didn’t raise it explicitly. However, both parties can argue over the secondary sale by adding an omission.

He highlighted that Ripple and US SEC may strike an agreement to include this in the hearings. However, the judge could approve the defendants’ assertion in the proposed Final Judgment.

Meanwhile, the district court could decide to take up the concerns filed by amicus curiae related to secondary sales. Almost similar scenario emerged in the US SEC Vs LBRY lawsuit where the judge agreed to address the issue.

However, in the latest filings, LBRY stated that the commission has failed to provide clarity even after striking a settlement over the issue.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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